Logitech raises full-year outlook as sales and profit expectations climb

LOGITECH International raised its full-year outlook after a strong performance and a growth in demand in the second quarter, the computer keyboard and mouse maker said on Tuesday (Oct 22).

The Swiss-American technology company now expects its full-year sales in the range of US$4.4 billion to US$4.5 billion, up from its previous guidance US$4.3 billion to US$4.4 billion.

The company’s non-GAAP operating income rose 5 per cent to US$193 million in the quarter ended September, beating analyst consensus forecast of US$176 million in a Visible Alpha poll.

The company, whose other products also include mobile speakers and webcams, said revenue grew 6 per cent to US$1.12 billion, beating the forecast of US$1.1 billion.

“Our strong results and overall business momentum give us the confidence to raise our annual outlook,” Logitech CFO Matteo Anversa said.

The figures continued a return to sales growth at Logitech, which struggled with lower demand following a pandemic-driven boom, as people stocked up on its equipment to work from home during lockdowns.

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The company, based in Lausanne, Switzerland, and San Jose, California, said it expects non-GAAP operating income to be between US$720 million and US$750 million for the year, compared with its previous guidance of US$700 million to US$730 million. REUTERS